HCL Software to Acquire Business Intelligence (BI) Platform Jaspersoft. The deal is valued at approximately $240 million (about 350 billion KRW) and will be paid entirely in cash. At the same time, the company will also acquire emerging enterprise Wobby, which has artificial intelligence data analysis capabilities, for $5.3 million (about 7.6 billion KRW), to enhance its data intelligence capabilities.
This acquisition can be seen as part of its strategy to strengthen core BI functions such as data visualization and dashboard creation. Headquartered in India, HCL Software is a professional software subsidiary of HCL Technologies, offering a range of enterprise applications including cybersecurity, network optimization, and code analysis. Its clients include most of the Fortune 100 companies.
Jaspersoft is a BI software company that offers both open-source and commercial subscription models, with a platform supporting developers to embed customized data visualization features into their applications. The company was acquired by Tibco Software in 2014 for approximately $185 million (about 260 billion KRW), and is currently operated as a brand under Cloud Software Group.
Jaspersoft’s core competitive advantage lies in its SQL-based visual data collection and in-memory processing technology. It caches frequently used datasets and uses an in-memory engine to load data from the start, providing faster response times with lower latency than traditional flash-based storage. Notably, the platform also features interactive analysis, map-based visualizations, and external stylesheet reuse, significantly improving the efficiency of dashboard creation.
HCL Software plans to integrate Jaspersoft’s technology into its existing Actian Data Intelligence platform. The Actian platform is a data management toolkit that helps enterprises eliminate issues such as duplicate records or missing spreadsheet entries and optimize query performance.
Wobby, also acquired in this deal, is a startup offering an AI analytics assistant tool that can execute data warehouse queries via natural language commands. HCL Software intends to leverage Wobby’s AI capabilities to enable Actian platform users to query data more intuitively and gain insights more easily.
Mark Porter, head of HCL Software’s Data & AI division, stated, “Customers not only need consistent analytical reports but also demand flexible solutions that allow them to control the entire analytical experience in the way they prefer. This acquisition will be a key turning point in meeting customer expectations and expanding BI capabilities.”
The two acquisitions are expected to be completed within the next six months. Industry experts believe that through this acquisition of Jaspersoft, HCL Software will further expand its influence in the AI and BI fields, thereby emerging as a stronger player in the competitive global data infrastructure market.
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